Digital currency in the strict sense is issued and operated based on distributed rules and intelligent codes. Its credit support has become farther and farther away from the centralized mechanism of the central bank and completely relies on some kind of spontaneous operation rules. to support. Although the scale is still small and the technology needs to mature, it may have a significant impact on the existing monetary mechanism in the future.

From a positive perspective, the central bank’s exploration of legal digital currencies may ultimately lead to higher currency transaction efficiency and lower costs by stripping and applying certain technical features of decentralized currencies. , more precise policy implementation, and more effective anti-money laundering and other risk control, thus profoundly changing people’s lives and the modern monetary system.

Recently, the news that the central bank is promoting the research and implementation of legal digital currency has attracted widespread attention from all parties. In fact, ever since Bitcoin became increasingly popular, digital currencies have become a hot topic within and outside the industry. However, due to a large amount of ambiguity in basic concepts, connotations and boundaries, there is also a lot of confusion about the understanding of digital currency, and even the phenomenon of "chickens and ducks talking" often occurs. In this regard, we need to systematically sort out the development of digital currency and clearly understand what impact it can have on the monetary and financial system.

Theoretically, accounts and payment tools can be separated. This is also a long-standing situation abroad. However, in our country, because bank cards have become the main tool for accounts and there are no personal checks, it has a poor public impression. may be integrated. Currently, in the process of promoting the reform of bank accounts and payment accounts, the central bank may promote the integration of bank accounts with new payment media. In the long run, it may also be accompanied by technological progress, allowing bank accounts to be directly integrated with new payment media, thus This further improves payment efficiency.

The operation of the modern monetary system is inseparable from bank deposit currency (accounting currency). With the continuous development of payment technology, issues at the currency level and payment level are often entangled, causing problems becomes more complex.